Abacus Life, Inc. (NASDAQ:ABL) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Abacus Life, Inc. (NASDAQ:ABL) by 32.0% during the fourth quarter, Holdings Channel reports. The firm owned 577,768 shares of the company’s stock after purchasing an additional 140,035 shares during the period. Franklin Resources Inc.’s holdings in Abacus Life were worth $4,524,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new stake in shares of Abacus Life during the 4th quarter worth about $110,000. JPMorgan Chase & Co. lifted its position in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after buying an additional 14,420 shares in the last quarter. LPL Financial LLC grew its stake in Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after buying an additional 5,507 shares during the period. Richard W. Paul & Associates LLC increased its position in shares of Abacus Life by 7.5% in the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company’s stock worth $328,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Abacus Life in the third quarter worth $614,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABL shares. B. Riley decreased their price target on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Piper Sandler decreased their target price on Abacus Life from $13.00 to $11.50 and set an “overweight” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abacus Life currently has a consensus rating of “Buy” and an average price target of $14.00.

Abacus Life Stock Performance

Shares of ABL stock opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company’s fifty day moving average price is $7.49 and its two-hundred day moving average price is $8.07. The firm has a market capitalization of $690.56 million, a P/E ratio of -39.61 and a beta of 0.16. Abacus Life, Inc. has a 12 month low of $6.34 and a 12 month high of $12.50.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $33.21 million for the quarter, compared to analysts’ expectations of $28.76 million. On average, research analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Abacus Life Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.